This Altcoin Bounced Over 75 Percent Today! What’s the secret?

Altcoins The market seems to be generally bearish with most assets trading in the red zone since the beginning of August.

However, autonomous digital currency Decred (DCR), was among the assets that challenged the market price action and recorded significant gains.

DCR, which was traded at approximately $45 at the time of this writing, has gained 66% in the last 24 hours. However, the altcoin slumped slightly after gaining 75%.

Daily chart showing the rise in Decred price.

Altcoin, the general experience in 2022 cryptocurrency It had experienced major price corrections in line with its decline. DCR works by combining Proof-of-Work (PoW) and Proof-of-Stake (PoS) mechanisms.

Decred price rose to $246 in 2021, breaking a big record.

Are Updates Caused by Decred Altcoin Price Rise?

The recent increase in the value of DCR is linked to increased network development aimed at pushing its blockchain towards widespread use.

The Decred lead developer shared an updated bid for the website upgrade, with messages stating that it is already ready and just awaiting refund and distribution permission.

Overall, the website upgrade will simplify operations for users. Here are the details of the website update:

“The messages have been simplified to focus on the most critical aspects of the project and describe them more concretely for the average person. The site was simplified in general by removing parts of the website that were deemed unnecessary or messy. If the offer is approved, the site will be ready for use and will replace the existing site.”

*Not investment advice.

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